World · India Bureau
Nifty Slides Below Key 22,800 Support Level on Monday
The Nifty 50 index breached a critical support level on Monday, falling to a six-month low as market volatility continued to weigh on investor sentiment. The benchmark indicator and broader indices posted significant losses during the trading session.
LSN India ·
The Nifty 50 index tumbled more than 350 points during Monday's trading, sliding to 22,785.55 and breaking below the closely-watched 22,800 support level. Market analysts flagged the breach as a bearish signal, indicating potential weakness in equity valuations heading forward.
The broader market sentiment extended beyond the Nifty benchmark, with the Sensex index also recording losses exceeding 1,100 points during the same trading session. The dual decline underscored growing pressure across India's equity markets.
The breakdown of the 22,800 support level represents a significant technical setback for the Nifty, taking the index to its lowest levels in approximately six months. Market participants were monitoring the index closely for signs of stabilization or further downside momentum as trading continued.